Exam 8: Global Economic Growth and Development

Suppose two countries have per capita real GDP of $20,000 in 2012. Country A has a growth rate of 4 percent and Country B has a growth rate of 5 percent. By 2015, the per capita real GDPs for the two countries, respectively, are (rounded)

The variable used to measure economic growth is

Which of the following variables is used to measure economic growth?

New growth theorists believe that

Labor productivity can be increased with

A higher rate of saving should lead to

Labor productivity is computed as

According to new growth theory, economic growth is driven by

Foreign residents can benefit from U.S. research and development activity because

Economic growth is measured by

A key idea of the new growth theory is that

Suppose a country experiences an increase in output per worker. Such a development represents which of the following?

Suppose two countries have identical growth rates of real GDP and the same initial value of per capita real GDP. We know, then, that

Research indicates that

According to the World Bank and the International Monetary Fund, which of the following countries has shown the greatest rate of economic growth in the past two decades?

Proponents of the new growth theory argue that which of the following is a determinant of economic growth?

Which of the following will cause an increase in economic growth?

Which one of the following does NOT appear to contribute to economic growth?

Which of the following statements is NOT consistent with new growth theorists' beliefs?

The benefits from research and development activities